Massive banks now close unexpected branches in Florida, following the industry trend as online banking continues to surge.
Wells Fargo has now shuttered seven major branches in Florida after it closed four in California.
The latest Wells Fargo branches to close in Florida are listed below:
- 3131 West Hallandale Beach Blvd, Hallandale
- 10191 Cleary Blvd, Plantation
- 113 South Tennessee Ave, Lakeland
- 4901 Tamiami Trail, South Naples
- 219 Indian River Avenue, Titusville
- 12233 North Florida, Tampa
- 2307 Del Prado Boulevard, Cape Coral
In July, Wells Fargo laid off over 100 employees in the consumer and small business banking division in Orlando.
Wells Fargo has cut its workforce by roughly 40,000 since the third quarter of 2020, and more cuts ae expected, the bank’s chief financial officer, Mike Santomassimo, said last month.
The following bank branches are also scheduled to shutter in Florida in the coming weeks:
- Trustco Bank. 1084 Lee Rd, Orlando
- Bank of America. 126 East Olympia Ave, Punta Gorda
Between 2017 and 2021, nine percent of all branches — almost 7,000 locations— shut their doors.
Florida had the fourth most closures of any state.
CNBC reports that this trend of bank closures may lead to “banking deserts”, where communities are left without access to a bank or credit union within 10 miles.
“Several studies have shown these communities are more likely to use non-traditional and high-fee lending options such as payday loans and check-cashing services, which increases financial inequities and ends up widening the wealth gap.”
Data from S&P Global Market Intelligence shows a total of 1,144 national and regional banks were closed between January 1 and July 31 across 49 states – and firms are pulling out of some areas faster than others,” reports the DailyMail.
Also Read: A US Bank is Now Denying Customers Access to Money
Other Banking News Today
A US bank is now stealing customers money in what appears to be a blatant fraud scheme that locks users from their accounts after making deposits.
Green Dot Bank is now facing fraud allegations from various customers who have been locked out of their account from several weeks to even months.
A Green Dot Bank customer who wishes to remain anonymous reached out to FrankNez to share their story.
“I found your info after reading your blog on the Green dot bank pending lawsuits.
I opened my account in June and received deposits in July through August totaling 2300+ dollars.
It’s October and I still haven’t received my money, I was even assigned a case number, gained access to the account after rigorous verification questioning only to be locked out of my account again and call disconnected because I couldn’t recall an old email on my account after they had been on the phone with me for close to an hour.
I’ve had no choice but to contact FDIC because I’m injured can’t work and I’m backed up in bills.”
Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.
“It been a month and I still haven’t been able to get my money from Walmart green dot. I have asked for a replacement card 4 times and haven’t got a card yet. My rent is due for last month and this month. I think they’re trying to keep my money,” says Marzell Land, another Green Dot Bank victim.
Customers affected by Green Dot Bank fraud should report to the FDIC and Better Business Bureau.
Scammers have lent out ‘support’ emails on forums meant to trick users into contacting the bank’s support team — these are fake.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
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